MADRID - Johnson & Johnson (NYSE: JNJ (NYSE:JNJ)) today presented long-term data from its MonumenTAL-1 study, indicating that TALVEY® (talquetamab-tgvs), the company's treatment for relapsed or refractory multiple myeloma (RRMM), sustained high overall response rates and durable responses in patients.
The findings, unveiled at the 2024 European Hematology Association Congress, showed promising results for patients who have been exposed to multiple classes of treatment, including those who had previously undergone T-cell redirection therapies.
Patients treated biweekly with the recommended Phase 2 dose of TALVEY® experienced a median duration of response of 17.5 months, and a 67 percent overall survival rate at 24 months. Additionally, those with prior T-cell redirection therapy exposure also showed significant response rates, with 55.1 percent achieving a very good partial response or better.
The safety profile of TALVEY® was also highlighted, with infection rates reportedly lower than in studies of other B-cell maturation antigen-targeted therapies. Adverse events led to few dose reductions and discontinuations, and weight loss observed in patients stabilized over time.
Further data from the MonumenTAL-2 study supported the potential of TALVEY® in combination with immunomodulatory agent pomalidomide, showing an 88.6 percent overall response rate in patients with two or more prior lines of therapy.
TALVEY® is a first-in-class GPRC5D-targeting bispecific antibody, approved by the U.S. FDA in August 2023 for the treatment of adult patients with RRMM who have received at least four prior lines of therapy. The European Commission granted conditional marketing authorization in August 2023 for similar indications.
The MonumenTAL-1 and MonumenTAL-2 studies are part of ongoing efforts to evaluate the efficacy and safety of TALVEY® in various dosing regimens and combinations. These studies contribute to the understanding of multiple myeloma treatment, a disease that remains incurable and affects a significant number of individuals globally.
The information detailed in this article is based on a press release statement from Johnson & Johnson.
In other recent news, Johnson & Johnson (JNJ) has been implicated in opioid crisis settlements exceeding $46 billion, with a potential additional $6 billion settlement under review. The company has also been allocated a portion of a $2.13 billion legal fee pool, with law firm Motley Rice receiving the largest portion. On the financial front, RBC Capital has maintained an Outperform rating on JNJ, following encouraging data presented at a recent analyst meeting.
JNJ's DePuy Synthes has also received FDA clearance for its VELYS Robotic-Assisted Solution for partial knee replacements, further expanding the application of the VELYS robotic platform. Meanwhile, Citi has adjusted its price target for JNJ to $180, maintaining a 'Buy' rating, following the finalization of JNJ's acquisition of Shockwave Medical (NASDAQ:SWAV).
In the pharmaceutical sector, AbbVie (NYSE:ABBV)'s arthritis drug Humira continues to lead the market despite competition from nine biosimilars. Analysts from Citi predict the Shockwave Medical acquisition will result in slight earnings dilution in 2024 and 2025, but will become accretive to earnings in 2026.
Lastly, JNJ has been ordered to pay $260 million in an Oregon talc case, while also working on a proposed $6.48 billion settlement to resolve the majority of talc-related lawsuits.
InvestingPro Insights
As Johnson & Johnson (NYSE: JNJ) continues to innovate in the pharmaceutical industry with promising treatments like TALVEY®, the company's financial health and market stability remain of interest to investors. According to InvestingPro data, JNJ maintains a robust market capitalization of $350.05 billion, showcasing its significant presence in the industry. The company's Price to Earnings (P/E) ratio stands at 18.2 for the last twelve months as of Q1 2024, reflecting investor confidence in its earnings potential. Moreover, JNJ's revenue growth of 10.57% over the same period indicates a strong capacity for increasing sales.
Highlighting Johnson & Johnson's reliability for shareholders, one InvestingPro Tip notes the company's remarkable history of dividend growth, having raised its dividend for 53 consecutive years. This track record is a testament to JNJ's financial stability and commitment to returning value to its investors. Additionally, the stock is characterized by low price volatility, which can be appealing for investors seeking a less risky portfolio addition.
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